Tuesday, June 09, 2026
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
George Proost, Research Intern, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Double E Expansion Gains Commercial Traction. Summit Midstream announced additional long-term transportation commitments on its Double E Pipeline, bringing open season commitments to 250 MMcf/d and total contracted capacity to approximately 1.9 Bcf/d. Demand has exceeded available expansion capacity, prompting the company to extend its open season through June 30, 2026, while continuing negotiations with prospective shippers. Management remains on track to reach a final investment decision by the end of summer and has secured key compressor equipment to support a targeted late-2028 in-service date.
Strong Demand Supports Capacity Expansion. The Double E Compression Expansion would increase pipeline capacity by approximately 50%, from 1.6 Bcf/d to 2.4 Bcf/d, further strengthening its role as a key natural gas takeaway system in the Delaware Basin. In addition to the 250 MMcf/d of binding commitments secured, Summit holds a firm option agreement for another 200 MMcf/d and continues discussions with shippers whose interest exceeds available capacity. The strong commercial response reduces project risk and underscores continued demand for Permian Basin natural gas infrastructure.
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